Careless, yes. Shocking? Well, perhaps I'm cynical, but the truth is that sell-side analysis is just not that great.
Real buy-side analysis is thorough, expensive, actionable and closely guarded.
As for Illverson, I agree that his value, while perhaps non-pecuniary in nature, is positive.
And Cramer's short-attention-span-theatre is basically the distracting shill for the HFT algos and market makers who pick the pockets of over-active traders.
As far as smart people making poor decisions, perhaps "Stupid is as stupid does."
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